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Meryl Streep to play Margaret Thatcher

THR EXCLUSIVE

Meryl Streep is in talks to reteam with her "Mamma Mia!" director Phyllida Lloyd for "The Iron Lady," a biopic of the controversial and long-governing former British prime minister.

Jim Broadbent is in talks to play Margaret Thatcher's husband, Denis, for the pic, which is being co-produced and co-financed by Pathe and Film4.

"Lady" is based on a script by Abi Morgan and, as described by Pathe, "tells the story of a woman who smashed through the barriers of gender and class to be heard in a male-dominated world. The story concerns power and the price that is paid for power, and is a surprising and insightful portrait of an extraordinary and complex woman."

Damien Jones ("Sex & Drugs & Rock & Roll") is producing. Jones was developing another Thatcher biopic, simply titled "Thatcher," which was originally developed with BBC Films. That version was set during the Falkland War.

Pathe plans to shoot "Lady" by the end of the year.

If a deal is completed, the role of Thatcher would be the highest-profile character yet tackled by Streep, who has garnered Oscar noms for playing real-life women such as whistleblower Karen Silkwood, author Susan Orlean and cooking guru Julia Child.

Lloyd, a British theater director known for her work in the opera world, elicited energy and brought out youthfulness in Streep in "Mamma Mia!," which was based on the Broadway musical and which grossed more than $600 million worldwide in 2008.

Streep, Lloyd and Broadbent are repped by CAA. Lloyd is additionally repped by Annette Stone, while Broadbent is additionally repped by Independent Talent Group.